For the first time, a Norwegian cryptocurrency exchange has gone live on the Euronext stock market. NBX (Norwegian Block Exchange) began trading under the ticker NBX on Tuesday the 14th of December, with an IPO target price set at 9 NOK (Norwegian Kroner). NBX’ stock briefly touched the 10 NOK area before sliding to the 7-8 NOK range (as illustrated below).
The company was founded by the Kjos’ family clan, which is perhaps best known for having started the airline Norwegian Air Shuttle back in the mid 1990s.
Arcane Crypto, the Norwegian holding company behind Kaupang Krypto reports that the Swedish FSA has approved its base prospectus to list an ETP based on its cryptocurrency fund. The ETP is expected to launch in the beginning of 2022, and will give investors an ability to gain exposure to cryptocurrency markets, through Arcane’s own holdings.
The ETP approval comes after a lengthy handling process, as the initial letter of intent was filed with the FSA back in June 2021.
Meanwhile, in Norway the FSA’s sister agency (Finanstilsynet) publicly criticized one of Norway’s best known cryptocurrency traders, Sturle Sunde.
In a public letter the Agency derided what it said was a lack of adequate procedures to combat money laundering and terror financing. Mr. Sunde has expressed regret with the findings, and says he will do what it takes to comply with the agency’s regulations.
Read the agency’s letter in full: Finanstilsynet.no – Tilsynsrapport Sunde Bitmynt Handel
Mr. Sunde is well known for being one of the first institutional traders of Bitcoin in Norway. Throughout the years he has earned significant amounts of money by selling and buying bitcoin with a premium compared to the spot prices.
Since 2019, several new cryptocurrency exchanges and services have been launched in Norway, in direct competition to that of Mr. Sunde.